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Year 9 Economics Flashcards | StudBud
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Year 9 Economics
Year 9 Economics
30 terms
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#economics
Flashcards
30 cards
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Practice quiz
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Questions
30
Answers
1
What is a Term Deposit?
A bank who gives interest on all your savings monies
A period of time that you give your money away for free
Account you put your money for a period of time for interest
A short term account where money is invested
2
What is NOT a type of insurance?
Landlord Insurance
Land Insurance
Vehicle Insurance
Business Insurance
3
What are the laws called that protect consumer rights?
Consumer Consumption
Consumption Laws
Laws for Purchases
Consumer Laws
4
Why would someone put their money into a Term Deposit Account?
High-risk
Need profits quickly
Low-risk
Know that their money is safe there
5
What online scams should you avoid to manage financial risk?
Do not open a savings account with a bank
Do not use an ATM card at a different ATM
Do not click on unfamiliar links
Do not visit your bank online
6
What is Financial Reward?
Percentage of gain that your investment experiences
The return that the risk provides
The opportunities that your investment has
What you win at the end of a fixed term deposit
7
Who managers a Managed Fund?
Professional Bar Lady
Professional Manager of the Bank
Professional Fund Manager
Professional Financial Fund
8
What is NOT one of the services a bank provides?
Offering credit cards
Investment Accounts
Business Loans
Providing Superannuation
9
What is NOT one way of managing financial risk?
Savings
Superannuation
Insurance
Investment
10
What is the role of the Trade Union in a workplace?
To support the employers when firing staff members
To support workers when they make mistakes in the workplace
To negotiate agreements between employers and employees
To ensure a business is being run according to the law
11
What is a Competitive Advantage?
Giving lower prices to customers to win their favour
Advantage over competitors gained by offering better value
Competition with neighbours to see who will make more profit
Arguing with another business for more customers
12
What is the name of the intersection point between Supply and Demand?
Equilibrium
Equilitrillion
Intersection of equal
Equal meeting point
13
What is the slogan used for spreading your investment money in different places?
Don't put your eggs into money
Don't invest your money all in one basket
Don't spread your eggs around
Don’t put all your eggs in one basket
14
What is an investment?
The time period where interest is given in return
The allocation of money to gain profitable returns
Banks who offer a good return of money to hold your money
The investment of money
15
The increase in price of limes would effect the demand for lemons?
FLASE
TRUE
16
What does ROI stand for?
Return On Investment
Returning on Interest
Receive Only Investment
Received Opportunity Invest
17
What are dividends?
Units of profit given to business managers
A way of getting a Competitive Advantage
Money paid regularly by a company to its shareholders
Methods used by businesses to gain profit
18
What does Home Insurance NOT cover you for?
Smoke Alarm Damage
Fire Damage
Natural Disaster
Theft
19
What does vehicle insurance cover you for?
Whiplash and airbag damage
Covers medical costs for injury during car accident
Theft or damage to vehicle, provides medical for injury
Only vehicle theft
20
What is Superannuation?
A compulsory saving scheme that can be accessed when older
A gross wage for the elderly
Old people's piggy banks
A government scheme that gives you $ when you can not work
21
What type of Investment gives you a set return interest rate?
Term Deposit
Managed Fund
22
What does the ASX stand for?
Aussie X Change
Australian Students Exchange
Australian Stock Exchange
Australian Securities Exchange
23
What is financial risk?
Any risk from giving money to another person or entity
Money that is not invested correctly
Not knowing who to trust in the business world
Risky decision making
24
What is the major contribution to the changing role of employees?
Trouble finding a job
Access to travel
Technology
Smaller families
25
What is Cost Leadership?
Provide lower priced AND quality items
Leaders in costing common items first
Offer the same quality products, but at a lower price
Lower prices for items that used to be more expensive
26
What is Differentiation?
Having a different business name to other similar companies
Something that sets a business apart from it's competitors
Seeking strategic alliances with other businesses
Something that is the same as other businesses but better
27
Who is NOT a participant in the workplace?
Legal Officials
Employers
Government
Trade Unions
28
What are the fees called associated with withdrawing money from a term deposit early?
Penalty Fees
Withdraw fees
Banking Fees
Bad customer fees
29
What is NOT an example of professional Alliances?
Professional referrals for shares business
Competing against your alliances
Using joint resources with another business
Joint business ventures
30
What is the biggest risk for buying Shares?
Expensive to buy
Fluctuation of stock prices
No guarantee of secure money
Unaware of how many shares are being purchased at once
